The Astrofinance credit distinguishes itself from the other loans in the market above all by a special feature: Instead of a bank private investors finance your loan here.
With the Astrofinance credit, not only the private credit Score decides on the lending. Here it is partly also possible to get a loan if you have been rejected elsewhere.
Astrofinance also offers loans for the self-employed, freelancers and students. Many other Kreidt providers exclude these borrowers on the basis of their profession from the outset.
Below we look at the Astrofinance loan compared to other providers. We highlight the pros and cons of the Astrofinance loan and inform around the company and worth knowing about the loan. In addition, we will show you concrete credit examples so that you can make an informed and good decision when choosing your loan.
1. Loans are not earmarked, rescheduling possible
2. Private individuals, the self-employed and freelancers are target group
3. Arranging loans on a purely private basis
Very easily! To get a loan from Astrofinance, all you have to do is take a few steps.
But you should note that Astrofinance is not a classic financial institution. The loan offers brokered here are all within a range between 1,000 and 25,000 EUR. In addition, the offer of Astrofinance is not free. In addition to the interest payable, an agency fee is payable upon conclusion of the contract. This fee is currently 2.95% of the loan amount and is already included in the installment calculation.
For a loan of EUR 10,000, EUR 295 must be paid if the loan agreement is concluded. Furthermore, a service fee is due. This is 2.50 EUR per month. Special repayments are not free. The amount for these fees depends on the prepayment calculation of the partner bank.
|Credit example:||renovation||Business start||Balancing checking account|
|Loan amount:||3,000.00 euros||15,000.00 euros||6,000.00 euros|
|Running time:||24 Months||60 months||36 months|
|APR:||3.20 percent||4.90 percent||8.90 percent|
|Placement Fee:||88.50 euros||442.50 euros||177 euros|
|Monthly Rate:||136.69 euros||318.63 euros||216.08 euros|
Astrofinance serves only one purpose, to give its customers good and cheap loans. The company only takes into account the creditworthiness of its customers in order to check whether the desired amount can be brokered and at which interest rate the loan is offered. A further examination via credit bureaus such as the private credit is not carried out.
The credit rating subdivides Astrofinance in three stages, resulting in a kind of rating. This rating then yields the interest rates used for the respective loan (as of February 2019):
As you can see, there are significant differences in interest rates. As already mentioned, these result from the creditworthiness of the respective customer. If there is a risk that the installments can not always be paid on time or if there are any signs of this, then the applicant concerned will be disqualified. rated.
Astrofinance has long been a well-known brand in the field of online credit in Germany. The company has been active since 2007 as a result of a business idea in 2006. The founder of Astrofinance wanted to change the credit landscape in Germany.
The idea was that you could get loans via the Internet. But unlike in the past, the banks should stay out of this, and 100% of the capital needed should be obtained from other people. This model has become so successful that so far around 70,000 Astrofinance loans have been brokered and completed.
According to its own information, the company has a market share of more than 70 percent in the crowdfunding / crowdlending sector in Germany.
The Astrofinance model offers advantages for all concerned. The borrower quickly finds a corresponding loan, the lender can invest his money at significantly better terms than for example in a bank, which in the max. granted one percent interest. The loans are provided with a good credit rating from 2.9%. Some house banks or banks in general are sometimes much more expensive here.
Astrofinance has been active in the German credit market since 2007 and is one of the leading online loan portals in Germany. However, there are only a few tests that have been conducted by renowned institutions. The reason for this is that there is no flat-rate interest at Astrofinance. The loans are very individual and only dependent on credit. This is different than other providers. These often subdivide their loan offer after residential loans, car loans and much more and always use different interest rates, which are then again dependent on how the respective applicant is rated by the credit bureaus.
However, if tests have been carried out, Astrofinance has also achieved a corresponding result. For example, Astrofinance has done well with the result “good” in a comparison of the EURuro magazine for online loan portals. And that shortly after the start of business in 2009.
Astrofinance also sets standards in terms of customer satisfaction. So you can read that the company on the rating portal eKomi 4.8 out of 5 possible stars. This corresponds to a customer satisfaction of at least 96%. This result has been calculated on the basis of 1,434 evaluations within the last twelve months.
There is no blanket answer to this question. And that’s a good thing, because the interest rate is individual for each loan. It depends only on the creditworthiness of the customer. To calculate this, Astrofinance performs its own score. Based on this score, the borrower is categorized into a specific credit rating category. The interest rate to be paid is then within the scope of the respective interest rate category and is still to be calculated individually.
The possibility of replacing a loan prematurely is possible at any time, in principle, and uncomplicated. If you have this request, you will be asked to contact the financing partner of Astrofinance. This partner then calculates the actual remaining amount of the loan and then raises an additional premium as part of the prepayment penalty.
Basically, as with any other loan, Astrofinance also pays interest on the loan. There are two other factors. One of these two additional factors is the agency fee. This amounts to 2.95% and is due when the credit agreement has been concluded. For a loan of EUR 10,000, this fee would be EUR 295.00. The second factor is the service charge. This is 2.50 EUR per month. For example, it finances financial transactions from one account to another.
What advantages does the Astrofinance score offer?
Immediately upon receipt of the credit request Astrofinance calculates the individual score of the applicant. This determination is free and with no effort. The score serves as a basis for calculating and determining the interest rate that the borrower has to pay.
Other loan levels bring with them different risks and circumstances. Inform yourself here: